The author is a RE attorney (CO & NY) and investor.John Corey

I even helped write (with no author credit) an internal guide when I worked with one of the Big Four for the leading guy of the firm in San Fran that specialized in 1031 (I was low on chargeable hours and needed a project).

Then you submit your offer to the bank with an addendum that says something to the effect of "upon approval of inspection of addition by licensed contractor, or county authority".

I think on preforeclosures I am confused on that - equity or no equity I start with the owner right (the letters, knocking on their door, etc) and in either case I HAVE to get their approval to either make some sort of deal with them - OR - get authorization to work with their lender - is this a true statement?

Ask around to find out who the best authority and course on Subject-2 is.

Mike,Also, I advise that you just read the books and don't jump into any of the mentoring schemes that are offered by the authors, until after you truly feel that you have absorbed knowledge and feel ready to try your hand at REI.

Authorized by or based on law: a legal right. b.

You will find some references.I know an author in WA state that has a book out.

Assets could be seized by the tax authorities if a partner is not reporting their income and paying their taxes.Maybe best that the person does not even appear as a partner.

Transfers using quitclaim deeds are often listed as nominal value in an attempt to avoid taxes, but if the authority chose to, they could likely follow up on such transfers and impose taxes and statutory penalties.